How does Sixup determine whether or not I get a loan?

Unlike traditional banks, we know you are more than your parents’ credit score. So, we focus mainly on other factors in the selection of our loan recipients. The major areas we are looking for:

  • Academic: We want to see that you are a solid student, who will be able to graduate college! There is no magic GPA or university, but typically we look for a consistently solid or upward trend in GPA (as well as other academic factors, such as your school and difficulty of coursework). 
  • Financial: We want you to be successful in college (and beyond), so we make sure that you have maximized federal funding (FAFSA, Pell Grants, etc) and minimized private loans. We also want to make sure you have a reasonable work / school balance. We do, however, take your overall debt into account in our decision.

Please Note: as part of the final phases of the application process, you will be asked to submit information for a credit check.  Although having a credit score is not required to get a Sixup loan, your credit history will be taken into account if you have one. A credit score, however, is required in certain
cases where a student may have high enough academic and other factors to be considered for potential
loan approval but not high enough where they don’t also need a positive credit report.

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